Correlation Between Baron Real and Voya Global
Can any of the company-specific risk be diversified away by investing in both Baron Real and Voya Global at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Baron Real and Voya Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Baron Real Estate and Voya Global Bond, you can compare the effects of market volatilities on Baron Real and Voya Global and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Baron Real with a short position of Voya Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Baron Real and Voya Global.
Diversification Opportunities for Baron Real and Voya Global
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between Baron and Voya is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Baron Real Estate and Voya Global Bond in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Voya Global Bond and Baron Real is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Baron Real Estate are associated (or correlated) with Voya Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Voya Global Bond has no effect on the direction of Baron Real i.e., Baron Real and Voya Global go up and down completely randomly.
Pair Corralation between Baron Real and Voya Global
Assuming the 90 days horizon Baron Real Estate is expected to generate 3.08 times more return on investment than Voya Global. However, Baron Real is 3.08 times more volatile than Voya Global Bond. It trades about 0.23 of its potential returns per unit of risk. Voya Global Bond is currently generating about 0.08 per unit of risk. If you would invest 3,720 in Baron Real Estate on May 31, 2025 and sell it today you would earn a total of 587.00 from holding Baron Real Estate or generate 15.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Baron Real Estate vs. Voya Global Bond
Performance |
| Timeline |
| Baron Real Estate |
| Voya Global Bond |
Baron Real and Voya Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Baron Real and Voya Global
The main advantage of trading using opposite Baron Real and Voya Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Baron Real position performs unexpectedly, Voya Global can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Voya Global will offset losses from the drop in Voya Global's long position.| Baron Real vs. Chartwell Short Duration | Baron Real vs. Franklin Federal Limited Term | Baron Real vs. Barings Active Short | Baron Real vs. Prudential Short Duration |
| Voya Global vs. Voya Bond Index | Voya Global vs. Voya Bond Index | Voya Global vs. Voya Limited Maturity | Voya Global vs. Voya Limited Maturity |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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